class 25: promotion mix

promotion mix

refers to the specific blend of promotional tools used by a company to communicate with its target audience effectively, persuade potential customers, and influence consumer behavior

advertising

the paid, non-personal presentation of ideas, goods, or services by an identified sponsor

informative advertising

used to introduce new products, features, or uses to a market

persuasive advertising

used to compete with other brands and build customer engagement

reminder advertising

used to maintain customer relationships and/or reinforce brand perceptions for more mature or seasonal products

public relations (pr)

involves building good relations with the company’s microenvironment

press relations

creating newsworthy moments or announcements for the news media

public affairs

building relationships with adjacent publics

adjacent publics

those with which the company interacts directly, e.g., local publics and social medias

lobbying

building relationship with regulators within the government public

investor relations

managing relationships with your investors and the wider financial public

sales promotions

short-term incentives to encourage a desired behavior, often the purchase or sale of a product

consumer promotions

targets consumers or buyers

trade promotions

target intermediaries by offering allowances/discounts, free goods, or push money in exchange for favorable promotion

sales force promotions

target the company’s own salespeople to motivate them

personal selling

involves the company’s sales force interacting with customers for engagement, making sales, and building relationships

sales force management

motivating and helping salespeople to interact with customers

direct marketing

using personalized efforts to obtain an immediate response and/ore build lasting relationships with carefully selected individuals or communities

digital marketing

a form of direct marketing that involves using the internet, modern technology, and data to personalize promotion tactics

push strategy

refers to incentivizing the movement of the product through a marketing channel

pull strategy

refers to inducing final consumers to buy the product, causing intermediaries to derive demand for the product from a producer